Camco International Ltd
01 June 2006
Camco International projects receive Chinese government approvals
June 1, 2006: Camco International (Camco) is pleased to announce that, following
its successful AIM Admission, the Designated National Authority of the Chinese
Government has issued letters of approval (LoAs) under the Clean Development
Mechanism (CDM) for four renewable energy projects being developed by Camco's
clients in the country.
The projects, totalling 142 MW, were co-developed by Chinese project developers
and Camco, assisted by the Chinese Renewable Energy Industries Association
(CREIA).
Carbon credits generated by these wind and small-hydro projects are expected to
total over 1.8 million carbon credits in the period to 2012.
Tristan Fischer, CEO, commented: 'Receipt of LoAs is an important step in the
complex CDM process. Camco is extremely pleased to be working with projects that
bring benefits in line with the sustainable development objectives of the
Chinese government. We expect these projects to be registered by the CDM
Executive Board in the coming months.'
Contact:
Camco International Limited
Tristan Fischer, CEO 020 7256 7979
Gavin Anderson & Company (for media enquiries)
Ken Cronin/Janine Brewis 020 7554 1400
Notes for Editors:
About Camco International
Camco works as an originator, developer and manager of carbon credits, working
with clients to convert carbon credit opportunities into assets of value in
international emissions trading markets.
Camco's key markets are China and Russia, where the company has significant
expertise and which are two of the largest potential markets for the generation
of carbon credits.
About Carbon Credits
Carbon Credits are used to meet compliance targets under the Kyoto Protocol and
related climate change legislation. In order to mitigate the effects of global
warning, signatories to the Kyoto Protocol have agreed to reduce their
greenhouse gases emissions to below 1990 levels.
This can be done either by taking domestic action or buying credits from
developing countries such as China (under the Carbon Development Mechanism) or
developed countries such as Russia (under the Joint Implementation Programme
(JI)).
This information is provided by RNS
The company news service from the London Stock Exchange